in which success in business depends on close relationships
between businesspeople and government officials.
Like Skip and Steve?
It may be exhibited by favoritism in the distribution of legal permits,
government grants, special tax breaks, and so forth.
Like a job for Steve?
Crony capitalism is believed to arise when political cronyism spills over into the business world;
self-serving friendships and family ties between businessmen and the government
influence the economy and society
to the extent that it corrupts public-serving economic and political ideals.
Like handing out construction contracts or limiting oversight
for long time campaign contributors?
In its lightest form, crony capitalism consists of collusion among market players.
Like TREBIC members?
While perhaps lightly competing against each other,
they will present a unified front to the government in requesting subsidies or aid.
Like Steve's job and Skip's hotel?
…it is not uncommon for current industry players to gain control of the “watchdog”
and use it against competitors.
This phenomenon is known as regulatory capture.
Could Steve Arnold's acceptance of "Land Use, Construction and Real Estate Director"
be considered Regulatory Capture?
be considered Regulatory Capture?
A famous early example in the United States would be the Interstate Commerce Commission,
which was established in 1887 to regulate the railroad “robber barons;”
instead, it quickly became controlled by the railroads,
which set up a permit system that was used to deny access to new entrants."
Crony Capitalism
Wikipedia
Are Kay Cashion, Bruce Davis, Kirk Perkins, Linda Shaw and Mike Winstead Jr.
aware of what could be considered an attempt to "capture" Guilford County's regulatory apparatus?
aware of what could be considered an attempt to "capture" Guilford County's regulatory apparatus?
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